1. The Federal Reserve Bank of New York (FRBNY) has extended credit to Maiden Lane LLC and to Commercial Paper Funding Facility LLC (CPFF LLC), as discussed in the notes to the Board's H.4.1 statistical release, "Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks." Consistent with generally accepted accounting principles, the assets and liabilities of both Maiden Lane LLC and CPFF LLC have been consolidated with the assets and liabilities of the FRBNY because the FRBNY is the primary beneficiary of the two LLCs. As a consequence of this consolidation, the extensions of credit from the FRBNY to both LLCs are eliminated from the Federal Reserve's balance sheet, and, thus, the loans are not included in borrowed reserves. 2. Includes credit extended through the Primary Dealer Credit Facility and credit extended to certain other broker-dealers. 3. Prorated averages of biweekly averages. 4. Averages of daily figures.

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H.3 (502) Table 2 AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND THE MONETARY BASE Not adjusted for changes in reserve requirements(1) Not seasonally adjusted Millions of dollars

Reserves of depository institutions

Vault cash(5)

Date

Total(2)

Nonborrowed

Required

Monetarybase(3)

Reservebalanceswith F.R.Banks(4)

Total

Used tosatisfyrequiredreserves(6)

Surplus(7)

Netcarryoverof reserve balances(8)

Month(9)

2007-Oct.

41499

41245

40040

828373

8286

49755

33213

16542

Nov.

41847

41481

40150

833052

8503

48996

33343

15652

Dec.

42701

27271

40932

836432

8179

52161

34522

17639

2008-Jan.

44065

-1595

42424

831104

8715

53163

35349

17813

Feb.

42778

-17379

41053

828692

8147

53651

34631

19021

Mar.

42706

-51817

39728

832358

9754

50446

32952

17494

Apr.

43506

-91904

41661

830494

9254

49315

34252

15063

May

45111

-110669

43100

833974

9688

48576

35423

13153

June

43933

-127345

41660

839085

9181

49333

34752

14581

July

44124

-121539

42147

846462

9343

49225

34781

14444

Aug.

44134

-123944

42146

847302

9430

50142

34704

15438

Sep.

102584

-187521

42533

908025

67173

50443

35411

15032

Oct.

314916

-333404

47012

1132548

278029

51720

36887

14833

Two weeks ending(10)

2008-Sep. 24

111337

-156524

42575

915040

75753

50225

35584

14641

227

Oct. 8

179529

-363521

43479

988598

143396

52973

36133

16840

614

22

327595

-363552

45888

1146349

291159

51721

36436

15285

852

Nov. 5

415538

-259734

51901

1239035

377279

50605

38259

12346

1151

19p

650470

-74707

45744

1482854

613007

54300

37463

16836

1268

1. Reflects actual required reserves, with no adjustments to eliminate the effects of discontinuities, or "breaks," associated with regulatory changes in reserve requirements. 2. Reserve balances with Federal Reserve Banks plus vault cash used to satisfy reserve requirements. 3. The monetary base, not break-adjusted and not seasonally adjusted, consists of (1) total reserves plus (2) required clearing balances and adjustments to compensate for float at Federal Reserve Banks plus (3) the currency component of the money stock plus (4), for all quarterly reporters on the "Report of Transaction Accounts, Other Deposits and Vault Cash" and for all those weekly reporters whose vault cash exceeds their required reserves, the difference between current vault cash and the amount applied to satisfy current reserve requirements. Currency and vault cash figures are measured over computation periods ending on Mondays. 4. Excludes required clearing balances and adjustments to compensate for float and includes other off-balance-sheet "as-of" adjustments. 5. Vault cash eligible to satisfy reserve requirements. It includes only vault cash held by those banks and thrifts that are not exempt from reserve requirements. Dates refer to the maintenance periods in which the vault cash can be used to satisfy reserve requirements. 6. All vault cash held during the lagged computation period by "bound" institutions (i.e., those whose required reserves exceed their vault cash) plus the amount of vault cash applied during the maintenance period by "nonbound" institutions (i.e., those whose vault cash exceeds their required reserves) to satisfy current reserve requirements. 7. Total vault cash eligible to satisfy reserve requirements, held by depository institutions not exempt from reserve requirements, minus the amount used to satisfy reserve requirements. 8. Consists of carryover only at depository institutions maintaining reserves on the basis of two-week maintenance periods. Reflects excess (+) or deficit (-) reserves eligible to be carried forward into the two-week reserve maintenance period ending on the date shown. 9. Prorated averages of biweekly averages.10. Averages of daily figures.

Note: Current and historical H.3 data are available each week on the Federal Reserve Board's website (http://www.federalreserve.gov/). Monthly data are available back to January 1959, and weekly data are available back to January 1975 for most series. For information about individual copies or subscriptions, contact Publications Services at the Federal Reserve Board (phone 202-452-3245, fax 202-728-5886). For paid electronic access to current and historical data, call STAT-USA at 1-800-782-8872 or 202-482-1986.

1. Figures reflect adjustments for discontinuities, or "breaks," associated with regulatory changes in reserve requirements. 2. Break-adjusted total reserves equal break-adjusted required reserves (table 3, column 3) plus excess reserves NSA (table 1, column 4). 3. To adjust required reserves for discontinuities due to regulatory changes in reserve requirements, a multiplicative procedure is used to estimate what required reserves would have been in past periods had current reserve requirements been in effect. Break-adjusted required reserves are equal to break-adjusted required reserves against transactions deposits. 4. The break-adjusted monetary base equals (1) break-adjusted total reserves plus (2) the (unadjusted) currency component of the money stock plus (3), for all quarterly reporters on the "Report of Transaction Accounts, Other Deposits and Vault Cash" and for all those weekly reporters whose vault cash exceeds their required reserves, the break-adjusted difference between current vault cash and the amount applied to satisfy current reserve requirements. 5. Prorated averages of biweekly averages. 6. Averages of daily figures.